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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked
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To: Glenn who wrote (86699)1/16/2000 11:59:00 PM
From: Carl van Rooyen   of 90042
 
Good idea, Glenn. It is a stock talk thread. So I'll stop my OTs and pop in every once in a while for a little short term stock talk.

I no longer own CS so I won't address it. I wish those longs great success with their holdings.

I'm short term bearish on the naz, so Friday I aggressively put about half the account short QQQ, the rest cash. I'll cover if it gets over 195 and proves me wrong, but I believe we are due for 15 maybe 20% short term correction within the next few weeks. I don't think it's so much a Fed thing, but the way the naz chart looks and feels to me.

This may not interest anyone here, but it's my major play for the short term. I think the comp needs to come back to the 50 day MA for recharge, and soon. A consolidation in that area, and then another major surge to fully and finally digest 4000. That's my take.

Not exactly unique thoughts, but what I brought to contribute for stock discussion today.
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